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December 8, 2020 Page 5 Existing PUD. While the subject site lies within the boundaries of the Silver Lake PUD (approved in 2004), the PUD does not include an approved conceptual development plan for the subject site. In this regard, no modifications to the original terms of the PUD approval or the processing of a PUD amendment are necessary. Comprehensive Plan Land Use Plan. The Land Use Plan included in the 2040 Comprehensive Plan directs high-density residential use of the subject site. The Plan also establishes a desired density range of 20 to 40 units per acre for high-density residential development. Proposed Residential Density. The applicant has proposed a residential density of 44.7 units per acre (38 dwelling units/0.85 acres) which exceeds the density range directed by the City’s draft 2040 Plan. As previously indicated, the applicant has requested flexibility from this density directive via the PUD. The City Council and Planning Commission were supportive of the idea of allowing the proposed development to utilize dwelling unit / development density rights, which were afforded other sites in the Silver Lake PUD but were not used. Densities in the Silver Lake PUD vary widely, and there is little remaining land to develop. Capping the project at 40 units per acre would result in a unit count of 34 units. As such, the increase proposed by the applicants is a total of 4 units over the cap. Averaging this unit count over the larger district would result in an insignificant impact to the PUD density. Affordable Housing. The housing aspect of the project potentially raises the issue of affordability. The City’s Comprehensive Plan identifies several aspects of affordability and density. The Plan notes that for existing housing stock, St. Anthony Village provides a greater ratio of affordable housing, a greater ratio of rental housing, and a greater ratio of multiple family housing that the metropolitan area in general. This is also true for most aspects of affordability when compared to nearby suburban communities. With regard to planned housing and affordability, the Metropolitan Council assigned (as a part of the 2040 Plan Update process) an allocation for 152 additional “affordable” units to St. Anthony for the 2021-2030 decade. The Plan accommodates this allocation with land designated for affordable residential development of more than 460 units. The proposed apartment project serves to implement the City’s Land Use Plan, which directs high-density residential uses upon the subject site. In this regard, the project provides a potential “opportunity” for additional affordable housing units in the City. Moreover, it is worthwhile noting that this supply of affordable units would be provided without need for public subsidy. Preliminary Plan PUD – conditions of approval. The following conditions were attached to the City Council’s Preliminary Plan approval: 61